Report

Bankability, Part 1: The Tests a Project Has to Pass

Africa doesn't lack money for energy. It lacks projects that money is willing to back. Only about one in ten African infrastructure projects reaches financial close. The ones that are properly prepared find investors. Part 1 of the Bankability Series covers the foundations: how lenders assess a project, who carries which risk, the contract clauses that matter most, and the tools that bring down the cost of capital. We draw examples from real deals: Lake Turkana Wind and Kipeto in Kenya, and South Africa's REIPPPP. Kenya's first renewable energy auctions are coming. Cheap bids will not be enough. They have to be bankable. Later parts go deeper into the contracts, the de-risking instruments and Kenya's auction framework.

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10/2/2026
Report
Bankability, Part 1: The Tests a Project Has to Pass
Part 1 of the Bankability Series covers the foundations: how lenders assess a project, who carries which risk, the contract clauses that matter most, and the tools that bring down the cost of capital. We draw examples from real deals: Lake Turkana Wind and Kipeto in Kenya, and South Africa's REIPPPP. Kenya's first renewable energy auctions are coming. Cheap bids will not be enough. They have to be bankable. Later parts go deeper into the contracts, the de-risking instruments and Kenya's auction framework.

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